The international monetary fund IMF has approved a 3 billion dollars bailout programme aimed at alleviating the country’s economic crisis.

Ghana’s information minister Kojo Oppong Nkrumah said the three-year extended credit facility was approved wednesday in washington dc.

The west african nation has been battling its worst economic crisis in a generation marred with inflation, debt burden and the depreciation of the local currency – the cedi – against the us dollar.

It is expected that $600m, the first batch of the loan will be remitted to ghana as soon as possible.